Question

Journalise the following: brought goods for 15000 paid by cheque at 10℅ discount. Sold goods of 8000 for 11000 and payment Recieceved by cheque at 5℅ discount. Above cheque was deposited in Bank.

Answer 1

Answer:. 1st condition..

. purchase a/c. Dr. 15000

To bank a/c. 13500

To discount a/c. 1500

2nd condition.......

Cash a/c. Dr. 11000

discount a/c. Dr. 550

To bank a/c. 19450

3rd condition......

Bank a/c Dr. 19450

To cash a/c 19450

Explanation: in very easy way!!